technicals are set - news to light the fuse?

Technically this is ready to move. The missing piece of the puzzle here is positive potash results or some nickle project news to provide the catalyst for a large and sustained run.

Heres an updated couple of charts.



The 6 month daily chart is looking good, the recent pullback looks to be complete with the stock finding support at the 50 EMA and nailing the 61.8% fib level.
Price has broken out from the downtrending pullback resistance line.
Momentum indicators look good, stochastics have flicked back up from an oversold level and the MACD is looking to cross back up.



heres the 1 year weekly chart.

Shows the large amount of time which has been spent consolidating the previous vertical run up.
The strong weekly resistance line once broken should now act as support on a weekly time frame.
This new support level looks to have been tested and has held up with the stock failing to close below this level on the weekly chart.




This has sufficiently consolidated the very strong run in march/april and looks primed for a break to new highs, just needs something to light its fuse.

Potash is definately in vogue at the moment, as seen by the amazing run ELM has been on lately, results from colluli("potentially world class potsh") are long overdue.

Also with Nickle being the second best performing commodity on the LME this year, it doesnt hurt to be involved in "Australias most exciting green fields nickle discovery" (there words not mine.)